The Manufacturers Life Insurance Company Invests $197.92 Million in Broadridge Financial Solutions, Inc. $BR

Key Points

• The Manufacturers Life Insurance Company acquired 1.45 million Broadridge shares worth approximately $197.9 million, giving it a 1.27% stake. Institutional investors collectively own 90.03% of the company.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $215.86, compared with the stock’s reported price of $185.61.
• Broadridge exceeded quarterly earnings and revenue expectations, reporting $3.82 EPS and $2.22 billion in revenue, while increasing its quarterly dividend from $0.97 to $1.09 per share.

The Manufacturers Life Insurance Company bought a new stake in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 1,445,207 shares of the business services provider's stock, valued at approximately $197,921,000. The Manufacturers Life Insurance Company owned approximately 1.27% of Broadridge Financial Solutions as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of BR. BlackRock Inc. purchased a new position in Broadridge Financial Solutions in the 2nd quarter worth approximately $1,473,918,000. Norges Bank purchased a new stake in shares of Broadridge Financial Solutions during the fourth quarter valued at approximately $346,304,000. Van ECK Associates Corp raised its stake in shares of Broadridge Financial Solutions by 110.6% during the fourth quarter. Van ECK Associates Corp now owns 1,475,283 shares of the business services provider's stock valued at $329,239,000 after purchasing an additional 774,747 shares during the period. Bank of New York Mellon Corp acquired a new position in shares of Broadridge Financial Solutions during the second quarter worth $101,738,000. Finally, Deutsche Bank AG acquired a new position in shares of Broadridge Financial Solutions during the second quarter worth $84,546,000. 90.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on BR. Royal Bank Of Canada upped their target price on shares of Broadridge Financial Solutions from $200.00 to $225.00 and gave the company an "outperform" rating in a research note on Wednesday, August 5th. Morgan Stanley lifted their price target on shares of Broadridge Financial Solutions from $169.00 to $176.00 and gave the stock an "equal weight" rating in a research note on Thursday, August 6th. UBS Group reiterated a "neutral" rating and issued a $180.00 price objective on shares of Broadridge Financial Solutions in a report on Monday, August 17th. Weiss Ratings reissued a "hold (c-)" rating on shares of Broadridge Financial Solutions in a research report on Friday, August 7th. Finally, DA Davidson lowered their target price on Broadridge Financial Solutions from $228.00 to $214.00 and set a "buy" rating for the company in a research note on Tuesday, May 5th. Four equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $215.86.

Insiders Place Their Bets

In other news, insider Hope M. Jarkowski sold 1,966 shares of the business's stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $155.00, for a total value of $304,730.00. Following the completion of the sale, the insider owned 1 shares of the company's stock, valued at approximately $155. The trade was a 99.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.10% of the stock is currently owned by corporate insiders.

Broadridge Financial Solutions Stock Performance

Shares of BR opened at $185.61 on Tuesday. The firm has a market cap of $21.16 billion, a price-to-earnings ratio of 19.29 and a beta of 0.87. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.15. The business's 50 day moving average is $153.56 and its two-hundred day moving average is $160.27. Broadridge Financial Solutions, Inc. has a 52-week low of $133.83 and a 52-week high of $263.00.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The business services provider reported $3.82 earnings per share for the quarter, topping analysts' consensus estimates of $3.76 by $0.06. The business had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.17 billion. Broadridge Financial Solutions had a net margin of 15.04% and a return on equity of 40.25%. The business's quarterly revenue was up 7.5% compared to the same quarter last year. During the same quarter last year, the company earned $3.55 earnings per share. Broadridge Financial Solutions has set its FY 2027 guidance at 10.370-10.750 EPS. Analysts forecast that Broadridge Financial Solutions, Inc. will post 10.54 EPS for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 5th. Shareholders of record on Thursday, September 3rd will be issued a dividend of $1.09 per share. The ex-dividend date of this dividend is Thursday, September 3rd. This represents a $4.36 annualized dividend and a yield of 2.3%. This is an increase from Broadridge Financial Solutions's previous quarterly dividend of $0.97. Broadridge Financial Solutions's dividend payout ratio (DPR) is 40.54%.

Broadridge Financial Solutions Profile

Broadridge Financial Solutions is a global fintech company that provides technology-driven solutions and outsourcing services to the financial services industry. The firm's core offerings center on investor communications, securities processing and post-trade services, and technology platforms that support capital markets and wealth management operations. Broadridge positions itself as a provider of mission-critical infrastructure that helps financial institutions manage regulatory requirements, investor engagement and operational complexity.

Products and services include proxy and shareholder communications, investor disclosure and digital communications, proxy voting and tabulation, clearing and settlement support, trade processing and reconciliation, and a range of software-as-a-service platforms for wealth and asset managers.

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